Terminal Reality used to be a great place to work but because of the upper management and some of the decisions they made it had to fold.
Cons
Very demanding work place. It was sometime difficult to get fresh ideas across to management and the executives were sometimes stubborn on how to run the company
The job was great and the people you work with (for the most part) are simply amazing.
Great Team atmosphere.
Creative environment.
Interesting properties to work on.
Cons
Demanding Work (especially during long "crunch" periods).
Strict deadlines (nature of the industry).
Recent (March 2012) large-scale lay-offs.